Why is offshore company formation so popular in Cyprus?

[AndrewT]

I am pretty sure that the low taxation is one of the main reasons why offshore company formation in Cyprus is so popular but can someone give few more reasons?

 

[JohnLocke]

Well, yes, the corporate tax rate which is the lowest in Europe is one of the major reasons for why people incorporate in Cyprus. Also the option to appoint / insert nominees is another reason then the possibility to establish a tax neutral setup is another reason. The benefits are many if proper advise is obtained.